Whakat¯ane aged care facility on long lease
A purpose-built private hospital in one of the Bay of Plenty’s most popular retirement hotspots is for sale with a long-term lease to an established care provider.
Colliers International is marketing the freehold land and buildings at 47 Bracken St, Whakata¯ne, for sale by deadline private treaty closing at 4pm on December 6, unless sold prior.
The 50-bed facility is tenanted by independent healthcare operator Golden Pond Private Hospital, which has provided aged care nursing and palliative care services for more than 20 years.
The hospital is well positioned to support the residents of the surrounding Golden Pond community, comprising 18 rest home and 11 studio units on individual strata titles. These units do not form part of the investment for sale.
Golden Pond Private Hospital is signed to a 12-year lease returning $304,826 plus GST in net annual rent, with four rights of renewal extending the final expiry date to March 2064.
The lease includes two-yearly rental reviews, along with market rental reviews every six years.
Colliers’ Grant White lauds the opportunity to acquire a long-term investment property in a high-demand sector.
“As New Zealand’s population ages, it’s becoming harder to find quality investment opportunities in the burgeoning retirement health care sector. The property for sale comprises a 1,483sq m facility with 50 rooms, of which five have private ensuites and 24 have shared ensuites. The hospital is well located only 1km from central Whakata¯ne and a short walk from the banks of the Whakata¯ne River. With its abundant natural beauty and proximity to the upper North Island’s main centres, the Whakata¯ne district has become a popular retirement spot.
“This is a chance to invest in New Zealand’s stable and growing retirement healthcare sector in a superb location,” says White.
His colleague Rob Schoeser, says the complex was built in the late 1980s and extended in 2005 with a matching design and style to complement the existing buildings.
“Golden Pond Private Hospital has been in operation since 1989 and remains independently owned and in stable management. Hospital beds are utilised for rest home care, ACC recovery care and palliative care.”
Schoeser describes attractive grounds, including well-kept lawns and gardens, where residents and patients can enjoy Whakata¯ne’s pleasant climate.
“The Whakata¯ne district’s numerous drawcards include stunning sandy beaches, record-setting sunshine hours, and plentiful recreational fishing opportunities. It records the highest temperatures in New Zealand about 55 days a year, and has enjoyed more annual sunshine hours than any other main centre in New Zealand for four of the past five years.”
Whakata¯ne is the main centre of the Eastern Bay of Plenty, located within 90km of Tauranga and Rotorua.
It is less than four hours’ drive from Auckland and two and a half from Hamilton, he says.
“Whakata¯ne is within easy driving distance of more than 40 per cent of New Zealand’s population,” Schoeser says.
“With more and more retirees choosing to relocate to sunny, accessible lifestyle spots, Whakata¯ne makes an ideal investment location, especially in the strongly performing aged care sector.”